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Guaranty National to Change Name to OrionAuto

31 March 1999

Guaranty National to Change Name to OrionAuto

    DENVER, Colo., March 31 -- Guaranty National, one of the top
nonstandard automobile insurance companies in the country, has announced plans
to change its name to OrionAuto effective April 1.  The new name reflects the
Company's alignment with its owner, Orion Capital Corporation , a
leader in the specialty insurance business.  It also brings consistency to the
organization by creating an umbrella for the eight different companies through
which the nonstandard auto products are sold.  These businesses will be
marketed under the OrionAuto name.
    To further support and promote its identity, OrionAuto has adopted a
revised tagline, which will be a key driver in the development of a solid
brand image.  The tagline is "Insurance.  Easy to Start.  Easy to Stay."  This
reflects an ongoing commitment to quality claims-handling, excellent customer
service and an overall ease of doing business.  Also, in conjunction with the
name change, OrionAuto will be introducing an efficient new internet online
distribution system, called Orion AutoLink, which will make it simple for
agents to interface electronically with the Company.
    The new tagline also spotlights the Company's redefined emphasis on
one-month insurance coverages, those coverages designed for customers looking
for quality auto insurance with the lowest down payment.  OrionAuto markets
both a one-and six-month product; however, the initial focus of the new
branding strategy will be on the high potential one-month product, where
OrionAuto has developed a visible leadership position and a strong market
niche.
    "We're extremely energized by these changes to our expanding
organization," said James R. Pouliot, president and chief executive officer.
"Marketing our products under a single name, OrionAuto, will strengthen our
identity as a leading insurer in the nonstandard auto segment.  At the same
time, as a values-driven organization, we are confident that our new tagline
reflects what is most important about our business.  At OrionAuto, we are
convinced that doing our jobs well and being easy to do business with are
essential.  Success and profitability will follow as we provide the products
and services needed by our agents and insureds."
    OrionAuto was founded in 1955 as Guaranty National Insurance Company, a
property and casualty insurance company.  Headquartered in Englewood,
Colorado, OrionAuto now focuses exclusively on the sale of nonstandard
automobile insurance.  At year-end 1998, the Company reported close to
$600 million in premium.  Its products are marketed through approximately
12,000 independent agents in 35 states.  The Company has 11 offices and over
1,500 employees.
    OrionAuto and its affiliates carry A.M. Best ratings of "A(Excellent)" or
"A-(Excellent)."  The Company is one of four principal specialty insurance
operations wholly-owned by Orion Capital Corporation, a Fortune 1000 company
with assets in excess of $4.0 billion.
    If you have questions about OrionAuto, please contact Kurt Allen, market
development manager, at (800) 456-4642 ext. 8944.